Posted on 02/23/2024 9:41:14 AM PST by SeekAndFind
Because the people know that that clowns are not the ones making any decisions. Dubya Bush and Obama made that too obvious. The current senile fool makes it undeniable.
Until We The People have "No One On This Ballot" as a choice on every ballot, we will continue to have selections, not elections, between two candidates the UniParty submitted.
Cut spending? Impossible! /s
Always sacrificed to contribute the maximum amount into my 401k. I’ve now been retired for over 10 years and am able to live on my income thanks mainly to my annual IRA (on retirement I converted the 401k account into an IRA) withdrawals. While the 401k plans help in wealth accumulation, workers must be disciplined enough to pay themselves before others and work towards goals.
Scrubbed from the internet a day later, an incoming Biden financial advisor floated this idea in December of 2020 just after Biden was selected as president.
One hour after Biden was sworn in on January 20 2021, being over 65 and would not be incurring any penalties (except killed in taxes), I cashed out my 401K.
They said they were going to do this, people.
Read about the “’401(k) program.
Your post reveals that you do not understand the tax situation.
I pay taxes on my withdrawals at my present tax rate.
Guillarducci plan....many Republicans still in office endorsed this plan when it was first introduced. They are still working on a way to obtain the savings people have worked hard to attain.
You know what they want? They want obedient workers. Obedient workers. People who are just smart enough to run the machines and do the paperwork, and just dumb enough to passively accept all these increasingly sh____ier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and the vanishing pension that disappears the minute you go to collect it, and now they’re coming for your Social Security money. They want your retirement money. They want it back so they can give it to their criminal friends on Wall Street, and you know something? They’ll get it. They’ll get it all from you, sooner or later, ‘cause they own this f_____ place. It’s a big club, and you ain’t in it.
-George Carlin
The problem isn’t government “spending”. That implies they are buying goods and services. They are not for the most part. They are just taking money away from productive people and giving it to themselves and the welfare class to maintain and grow their power. It is just plundering wealth transfer, on a scale unprecedented in human history.
Two more Dumb-a$$e$.
One thing the government cannot stand is strong and independent citizenry. They want a nation of serfs who are controllable. Getting rid of IRAs makes citizens more government dependent.
The only effect on Congress would be to urge ever more spending. The effect for the people is to usher them more quickly into government servitude.
They always think their job is to ‘maximize tax revenue’. Both parties argue how to accomplish this....without either realizing this shouldn’t even be the goal.
The spending is insane. It’s never enough. What they’re doing is immoral and unethical.
Also, 401k’s are for the ‘well heeled’??? MOST people put money into their 401k if they’re saving something. That said, they’ve already raided out 401k’s.....by devaluing the dollar and causing inflation. The cost of living when I retire looks very different than expected.
I wouldn’t mind knowing what it is that you think I do not understand.
Your deferred income is invested and taxed when you whithdraw from the result. Both you and the government are, therefore, partners in how well the investment performs.
That is my understanding.
None of this is covered by the 16th Amendment.
The usual clickbait from the damn liars at American Thinker. No where in the article does it state that the government is going after 401s. It’s all about the musings from “two economists from opposing ideological camps (who) argued in a research brief in January.”
.
When I was working, I never made enough to get into a good 401K. It took all I could make just to get by, then I started drawing on S.S. & could save a little. Now, with just S.S. as my only income & living semi-destitute I can hang on to a little of it (on some months)but not enough to really keep up needed expenses. At least I don’t have a 401K that the government can rob at will.
The same for me, but at a younger age. There should still be a “Rule of 55” that allows those older than 55 to cash out without penalty.
I looked at the stolen election and decided that I didn’t want Hunter Biden as my retirement business partner.
I also saw all of the mandates appearing for the fake “vaccine” and realized that I wanted no part of this.
Most citizens who live paycheck-to-paycheck do not handle their money responsibly. I see women at the grocery store with $2,000 purses and $800 shoes. I see guys with $2000 bicycles and other fancy sports equipment. Even the workers at the grocery stores have manicures, hairdos and jewelry that cost hundreds of dollars. If they really hated living paycheck-to-paycheck they would get a second job.
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